Pfizer Inc (NYSE:PFE) Gets Approval For Menopause Drug
The U.S Food Drug Administration has approved Duavee, Pfizer Inc (NYSE:PFE)’s menopause drug. The company says that this drug will help in reducing hot-flashes and have lesser side-effects than existing hormone replacement therapies.
On Thursday, the FDA said that it had approved the drug to be used by women suffering from moderate-to-severe menopause symptoms. It is also used in preventing osteoporosis that arises post menopause. In this condition, there is bone mass loss which increases fracture risk.
Pfizer Inc (NYSE:PFE) was developing this drug in conjunction with Ligand Pharmaceuticals. It is a combination of bazedoxifene and conjugated estrogens that are found in Premarin, the company’s menopause drug.
Friday’s trading session
In Friday’s trading, Pfizer Inc (NYSE:PFE) rose by 0.23%. The shares opened at a price of $43.65, climbed to an intraday high of $44.25 and dipped to a close of $43.08. Approximately 6.34 million shares were traded on Friday while an average volume of 3.62M shares were traded over 30 days. The 52-week low of Pfizer Inc (NYSE:PFE)’s shares is $19.68 and its 52-week high is $59.00. Pfizer Inc (NYSE:PFE) has a market capitalization of $4.21 billion.
About the company
Pfizer Inc (NYSE:PFE) is a global, research-based bio-pharma company. It has 5 business segments: 1) Primary Care; 2) Specialty Care and Oncology; 3) Established Products and Emerging Markets; 5) Animal Health & Consumer Healthcare, and 5) Nutrition. Pfizer Inc (NYSE:PFE)‘s diversified international healthcare-portfolio includes human & animal biologic and small-molecule vaccines and medicines, consumer healthcare products and nutritional products.
Pfizer Inc (NYSE:PFE)’s Animal Health business unit is engaged in the discovery, development and sale of products that are used in the prevention & treatment of different diseases in companion-animals and livestock. On 1 August 2011, Pfizer Inc (NYSE:PFE) completed the Capsule business sale.